Dako, an Agilent Technologies ( A ) subsidiary, has
received U.S. Food and Drug Administration (FDA) approval for the
inclusion of Kadcyla in the labels of two of its companion
diagnostics. Kadcyla is Genentech's new breast cancer medicine.
Kadcyla is a new medicine for patients suffering from
HER2-positive metastatic breast cancer. The assays from Dako are
HercepTest and HER2 IQFISH pharmDx. These assays will help to
identify cancer patients with HER2-positive metastatic breast
cancer who may be eligible for Kadcyla treatment. This will speed
up the detection of breast cancer, allowing doctors to start
Kadcyla treatment as soon as possible.
Agilent had acquired the Danish cancer diagnostics company Dako
for $2.2 billion (on a debt-free basis) last year. Dako provides
antibodies, scientific instruments and software mainly to
cancer-related diagnostic labs and collaborates with drug companies
for the development of methods to identify patients likely to
benefit from certain therapies.
Dako has collaborated with other pharmaceutical giants such as
Eli Lilly and Co. ( LLY ) and
Pfizer Inc. ( PFE ) for developing
technologies in the field of companion diagnostics to detect
cancer. Thus, with these collaborations and the FDA approval for
its companion diagnostic assays, Agilent's unit may help the
ongoing research in companion diagnostics; thus improving the
diagnostic process as a whole.
According to Global Industry Analysts, the worldwide market for
companion diagnostics may reach $280.2 million by 2017, driven by
the enhancement of a drug's clinical usage, thus reducing the
overall cost and risk involved in drug development and
Currently, Agilent Technologies has a Zacks Rank #3 (Hold).
Another test equipment company, National Instruments
Corp. ( NATI ), has a Zacks
Rank #1 (Strong Buy) and is thus also worth considering.AGILENT TECH (A): Free Stock Analysis ReportLILLY ELI & CO (LLY): Free Stock Analysis
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